Indian commercial vehicle manufacturer Ashok Leyland has declared five non-working days starting Friday in its Chennai plant amid auto sector slowdown, NDTV reported.
Workers at the Chennai plant received a communication from Ashok Leyland about the five-day holiday, sources told NDTV.
Sluggishness and contraction in the commercial vehicle market have led to the move by Ashok Leyland, company sources said.
Around 5,000 workers at the plant, including 3,000 contractual personnel will be affected due to the move sources said. The wages for non-working days will be decided later, they added.
The development comes as the country's auto sector is struggling against a slump in sales and lakhs of estimated job cuts.
Shares of Ashok Leyland on Wednesday fell over 4 per cent after the company reported a 47 per cent decline in total commercial vehicle sales at 9,231 units in August.
The company had posted sales of 17,386 units in the year-ago month, Ashok Leyland said in a statement
Meanwhile, Union Minister Road Transport and Highways Nitin Gadkari on Thursday assured the crisis-hit automobile industry of all possible support from the government, including taking up the demand of GST reduction with Finance Minister Nirmala Sitharaman.
He also stated that the government had no intention to ban petrol and diesel vehicles, clearing the air after rumours were doing the round that the move to push e-mobility will result in end of the road for traditional petrol and diesel vehicles.
(With inputs from PTI)
